I am a single director and only employee of an LTD and the only driving force of the LTD revenue. The LTD business bank account holds an amount of retained profit (e.g. corporate tax has been paid for all previous years). The company has no other tax liabilities. I intend to close the LTD company and i would like to contribute 100% of the retained profit to my SIPP account which is in my name only. I have been advised by Financial Adviser and my accountant that i do have this option, i.e. to contribute to my SIPP using the retained profit of my company in order to increase the low balance of my private pension (SIPP).
I also prefer that option ie contributing to my LTD post corporate tax retained profit to my SIPP instead of withdrawing those monies in the form of dividend, and/or salary.
I would like to also check with HRMC (in addition to the confirmation from my accountant and financial adviser) that there are no restrictions to do since this is retained profit from revenue that only I generated as single director, only employee of the company and this revenue has already being subjected to corporate tax.
Is the £13 cost of the Company house confirmation statement a business allowable expense and subject to full relief from the pre-corporate tax profits. If yes, can I pay the £13 using the LTD debit card, so it shows on the transaction list as business cost?